ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Established in 1966, it is owned by 68 members—49 from the region.
ORGANIZATION
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ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
Data and Statistics
Data and statistical analysis in the Asia and Pacific region contribute to knowledge generation in ADB, helping strengthen its institutional priorities and operational effectiveness in its developing member economies.
ADB's Chief Economist: Albert Park
Albert Park is the Chief Economist of the Asian Development Bank (ADB).
Mr. Park is the chief spokesperson for ADB on economic issues. He leads the Economic Research and Development Impact Department (ERDI), which publishes key knowledge products such as the Asian Development Outlook, Asian Economic Integration Report, Asia Bond Monitor, and Key Indicators for Asia and the Pacific.
Read the news release on his appointment.
Growth Forecast for Samoa Revised Up on Tourism Rebound — ADB
Samoa’s economy is forecast to have grown by 6.0% in financial year 2023 and is expected moderate to 4.2% in financial year 2024 (ending June 2024), says the Asian Development Outlook (ADO) September 2023, an update to ADB’s flagship economic publication. Both estimates are an upward revision from ADO April 2023.
ADB Projects Solid Growth but Rising Risks for Asia and Pacific
Economic growth in Asia and the Pacific is expected to remain solid, although risks to the outlook are rising, according to a report by ADB.Higher Rates Remain a Risk for Emerging East Asia Borrowers
Governments and central banks in emerging East Asia need to stay vigilant to guard against potential financial risk associated with higher interest rates, according to a report by the Asian Development Bank.Increased Cost-of-Living Crisis Undermines Progress on Poverty Alleviation in Asia and Pacific
The increased cost-of-living crisis sparked by surging inflation last year, combined with the lingering effects of the COVID-19 pandemic, is continuing to push people in Asia and the Pacific into extreme poverty, according to a new report by the Asian Development Bank.
ADB Maintains Growth Forecast for Asia and the Pacific
ADB is maintaining its growth outlook for developing economies in Asia and the Pacific at 4.8% this year, as robust domestic demand continues to support the region’s recovery.
ADB-Statistics Korea (KOSTAT) MoU Signing Ceremony - Albert Park
Remarks by Albert Francis Park, ADB Chief Economist and Director General, Economic Research and Regional Cooperation Department, at the ADB-KOSTAT MoU Signing Ceremony, 12 December 2022
Albert F. Park is Chief Economist of the Asian Development Bank (ADB) and Director General of its Economic Research and Regional Cooperation Department. He is chief spokesperson on economic and development trends and leads the production of ADB’s flagship knowledge products and support for regional cooperation fora.
Mr. Park has more than 2 decades of experience as a development economist and is a well-known expert on the economy of the People’s Republic of China. He has worked on a broad range of development issues including poverty and inequality, intergenerational mobility, microfinance, migration and labor markets, the future of work, and foreign investment.
Mr. Park is Chair Professor of Economics, Social Science, and Public Policy at HKUST (on leave). He served as a founding director of HKUST’s Institute for Emerging Market Studies and Center for Economic Policy, and previously held faculty positions at the University of Oxford and University of Michigan.
A national of the United States, he received his bachelor’s degree in economics from Harvard University and his doctorate in applied economics from Stanford University.